Chris Raciti, Board member and Chairperson of the Australian Chamber of Commerce in Korea, stepped down at a Board Meeting on Monday, March 14, 2022, as Chairperson and Director.

Mr Raciti noted that it was an honour serving as the Chamber’s Chair for the past four years, however with his recent appointment as ANZ Country Head, China, he would be relocating to Shanghai, subject to regulatory approvals, in the coming months.

“As the peak body representing Australian business interests in Korea, I am very fortunate to have been able to witness substantial growth and diversification within the Chamber and bilateral relationship. The Chamber’s board consists of some highly experienced and passionate directors, and I am sure that I am leaving it in excellent hands”, Mr Raciti noted.

During his time, Mr Raciti played an active role in supporting the business community, advocating for deeper engagement between Australian-Korean businesses, and placing a strong emphasis on business to government engagement.

Despite the pandemic, the Chamber recently hosted several strategic meetings with Australian and Korean government representatives, including one with the Hon. Dan Tehan, Minister for Trade, Tourism and Investment in 2021 to mark the 60th anniversary of diplomatic relations.

During Monday’s board meeting, Vice-Chair, Ms Jo Billing, Co-CEO of JOST&Co, was nominated and elected unanimously as the interim Chair until the upcoming Office Bearer’s election later this month.

Ms Billing thanked Chris for his contribution and guidance to the business community, noting that he has been instrumental in introducing many positive changes to the Chamber over the years.

The Chamber is committed to providing a voice for the Australia-Korea business community and looks forward to working with its members and the broader community in the year ahead.

AustCham Korea consists of a small team of passionate individuals all working towards a common goal of fostering a stronger Australian-Korean and broader business community.

On Monday, March 7, 2022, AustCham said goodbye to Business & Administration Manager, YeonJi (Jade) Son, as she left her full-time role with the Chamber for new opportunities.

“It was my utmost pleasure working at AustCham Korea and being involved in advancing the Australia-Korea relationship. Special thanks to the team for having me on this incredible professional journey at the Chamber.”

“On behalf of the Board of Directors, Secretariat, Sponsors, Members and community representatives, I want to thank Jade and wish her all the best for the future,” said the Chamber’s Executive Director, Rowan Petz.

AustCham Korea’s Project Manager Grace Casley caught up with Yoojin Kim, NSW Trade & Investment Director for Korea, and Sunah Kim, NSW Trade & Investment Associate Director for Korea, to enjoy some Australian coffee and sample the delicious bagels at FourB.

It was great to discuss what’s on the agenda for the NSW Trade & Investment team and build stronger connections for future collaboration with our Gold Sponsor.

Thanks to the Trade and Investment Queensland (TIQ) team for giving our Project Manager Grace Casley a tour of the office, located in the Gangnam Finance Center, Yeoksam.

It was incredibly informative to get a comprehensive market overview from the Trade Commissioner and AustCham Board Member Ryan Freer, with additional remarks on future collaboration plans with the Marketing Officer Hunsik Kim.

The AustCham team looks forward to working closely with TIQ in 2022.

With borders opening up in both Australia and South Korea, it was terrific to catch up with Nicolas Masse, Country Manager Korea at Cathay Pacific, and Soong Lee, Corporate Sales Manager Korea at Cathay Pacific, to enjoy a morning coffee and talk all things aviation.

Cathay Pacific have been a key player in overcoming supply chain issues during COVID, with logistics hubs in Hong Kong and South Korea.

Nicolas and Soong were able to disclose that they are very excited about the future of flight routes from key Cathay Pacific hubs starting next month (April, 2022). With the aviation industry kicking off again, AustCham Korea looks forward to expanding on our relationship with Cathay Pacific in 2022.

With fun events on the horizon for AustCham Korea and their Silver Sponsor, The Millennium Hilton Seoul, it was wonderful to catch up on site.

The AustCham team would like to extend their special thanks to General Manager and AustCham Board Member Felix Busch for a delicious lunch at Bistro 50. With many exciting online and offline events in the works for 2022, the AustCham Korea teams looks forward to working closely with The Hilton.

On Friday, March 4, 2022, AustCham Korea in partnership with the Australian Embassy in Korea hosted an International Women's Day industry panel discussion, #BreaktheBias.

The Chamber would like to extend our thanks to Dr Alexandra Siddall, Deputy Head of Mission, Australian Embassy to the Republic of Korea, for providing introductory remarks and further answering questions along the way.

Thank you to our panellists, Julie Quinn, Senior Trade and Investment Commissioner to South Korea and Mongolia, Austrade Seoul, Jodi West, Country Head, ANZ Vietnam, Tanya Moon, Investment Director, Trade and Investment Queensland and Sabrina Hosford, Head of Product and Commercial, Woolworths International for sharing their insights on what #BreakTheBias means to them.

A special thanks to Jo Billing, Director & Co-CEO at JOST & Co, and Board Member at AustCham Korea, for moderating the event with ease and expertise.

AustCham's IWD panel discussion is available to watch on YouTube below.

On Thursday, March 24, 2022, AustCham Korea was pleased to support AMCHAM Korea and KOTRA as they hosted the first Business+ Forum.

The event brought together over 70 people from different Chambers of Commerce, along with members of the local business community at the Grand InterContinental Seoul Parnas.

A special thanks to Joseph J. H. Chung, Director at Macoll Consulting Group, for sharing his insights on new laws and regulations, market trends, corporate environment changes, and business opportunities to come in 2022.

These monthly forums will continue with members of various foreign chambers in Korea gathering to share and discuss ongoing trends and issues.

Click here to see a video of the event.

On Thursday, March 17, 2022, AustCham Korea supported the Asia Society's Webinar, "Between Engagement and Deterrence: Navigating Tensions on the Korean Peninsula," which is part of the joint project: Australia and Korea: Middle Power Parallels.

In this highly engaging webinar, Lauren Richardson, Asia Society Australia-Korea Fellow, Seong-Ho Sheen, Professor of International Relations, Seoul National University, and Justin Hastings, Professor of International Relations and Comparative Politics at the University of Sydney, discussed the new strategic realities of the Korean peninsula. The webinar was moderated by Jeongmin Kim, correspondent at NK News.

It was interesting to hear the panellists theorise on what the future of security on the Korean peninsula looks like and the ramifications this will have on the broader Indo-Pacific. Furthermore, they discussed how the upcoming South Korean elections will change the way we engage with an unpredictable North Korean regime.

Did you know that you can find AustCham Korea's past webinars on our YouTube channel?

We upload complimentary past webinars to make them accessible to you for review or viewing at your leisure. If you are an AustCham Member and would like to access some of the past paid webinar recordings, please get in touch with us at info@austchamkorea.org.

Click here to browse AustCham Korea's YouTube Channel and subscribe to keep track of our webinars and other initiatives.

The Australian Chamber of Commerce in Korea is proud to present a special webinar with ANZ. Titled ‘Korea Economic Outlook: Going from pandemic shock to geopolitical shock’ this webinar will take place today, on Tuesday 29 March 2022, via Zoom.

Just when the world was seeing the light at the end of the COVID-19 tunnel, Russia triggered a major geopolitical shock when they invaded Ukraine. The impact of surging commodity prices and supply chain disruptions are clouding South Korea’s economic outlook. In this webinar, Khoon Goh and Krystal Tan will assess the key challenges facing the global economy and explore the policy implications. They will also discuss the implications for South Korea’s economic outlook, and what it means for the external position, monetary policy and the KRW

Presenting this webinar is Khoon Goh, Head of Asia Research at ANZ, and Krystal Tan, Economist at ANZ, with AustCham Korea Executive Director Rowan Petz moderating the event.

AustCham Korea invites you to join us for our HR-focused webinar on Tuesday, April 12, 2022. Following the rapid change and disruption of the past few years, the “future of work” and need for greater workplace flexibility is a key topic of conversation for employers and employees alike, highlighting the need for business leaders to prioritise people through their HR practices, as a valuable tool to future-proof their organisation.

Human Resources professional and Founder of Elsyung Consulting Elsie Yung joins AustCham Korea and ANZCCJ for a joint-Chamber webinar to discuss what HR can do for your company’s business success while having a meaningful impact on your employees.

Topics covered will include:

Are you looking for your next goodwill adventure? AustCham Korea is seeking your support in joining #TeamAustralia in their quest to raise money for the upcoming Korea Charity Bike Ride 2022.

This event will take place on June 18-19, and consist of more than 350 participants riding 528 km from Busan to Seoul within 48 hours (day 1 – 307 km, day 2 – 221 km).

AustCham Korea is seeking interest from those who would like to either join #TeamAustralia as a cyclist or as a corporate sponsor (either monetary or in-kind services).

All funds will go toward our chosen charity, Ronald McDonald House Korea.

For more information, please contact Rowan Petz, Executive Director, at exec@austchamkorea.org

AustCham Korea is pleased to welcome Milbank LLP as our newest Corporate Member.

Milbank LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York over 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC.

Milbank’s lawyers collaborate across practices and offices to help the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives. At the core of Milbank’s approach to providing legal services is one worldwide partnership of elite lawyers who thrive on tackling complex legal issues head-on. They do not simply deal with the technicalities: they offer constructive, commercial and pragmatic advice.

Find out more about Milbank LLP on their website here.

Congratulations to our Gold Sponsors Macquarie Asset Management and IFM Investors for respectively winning the Infrastructure Best of the Best and Operational Excellence categories for the Best Asset Managers by Korean Investors 2021 awards.

The Korea Economic Daily (Global Edition), a premium multilanguage business news provider, announced the winners of the Best Asset Managers by Korean Investors 2021 awards on Wednesday, March 2, 2022.

The KED, with global investment experts, selected the award winners based on a survey for 26 Korea limited partners. The LPs include National Pension Service (NPS), Korea Investment Corporation (KIC), Korea Post and other pension funds, as well as mutual aids and insurers.

To read more and see the full list of winners, click here.

Congratulations to AustCham Korea's Gold Sponsor, Victorian Government for signing a memorandum of understanding with the Korea Health Industry Development Institute to expand cooperation in mRNA vaccine research and manufacturing capabilities.

Under the deal inked on March 11, 2022, both parties agreed to make joint efforts to explore potential research collaboration and investment opportunities that may lead to the development of RNA ecosystems in their respective jurisdictions.

“Victoria has Australia’s largest biomedical ecosystem and is leading Australia’s RNA technology research and production capabilities, faithfully playing an unrivalled hub in Australia’s pharmaceutical and bio sectors,” said CEO Michael Kapel of the state-run mRNA Victoria in a statement.

The government agency is responsible for leading the Victorian government’s commitment to establishing the state’s mRNA and RNA industry, providing domestic and international companies with market-entry support and facilitating the engagement and partnership for RNA research development, clinical cooperation, commercialization and manufacturing.

“The State of Victoria is Australia’s leader in pharmaceutical and biological manufacturing, responsible for nearly 60 percent of Australia’s pharmaceutical exports, while Korea has a high capacity in vaccines manufacturing, materials development and an outstanding workforce capacity in the sector,” said Victoria’s Commissioner to Korea Adam Cunneen.

Read more here.

Congratulations to AustCham Korea's Gold Sponsor IFM Investors for striking a $500m renewable power deal with QIC and Origin Energy.

Infrastructure assets owned by IFM Investors and the Queensland Investment Corporation, including Melbourne Airport and Ausgrid, will hit carbon emissions targets faster than expected following a $500 million deal with Origin Energy to buy renewable power.

IFM and QIC struck a deal with Origin Energy to collectively buy about 132 gigawatt hours (GWh) of renewable energy annually for seven infrastructure assets in NSW and Victoria as part of the first stage of a $500 million purchase plan.

IFM is aiming for net zero emissions from all its businesses by 2050.

Read more here.

Congratulations to AustCham Korea Member Robert Walters Korea for receiving an award in the 2022 Happy Plus CSR Awards in the Contribution to Job Creation Category for the third consecutive year.

Robert Walters Korea received the award in recognition of its continuous contribution to creating jobs and leading exemplary CSR activities despite the prolonged pandemic. They have been committed to continuing business with a socially responsible mindset and becoming a positive force in society.

Junwon Choi, Country Manager at Robert Walters Korea, said: “Even in the midst of a pandemic, we have been relentlessly discovering quality jobs in the market and committing to serve as a reliable partner for candidates in every step of the job search. In times of great uncertainty, Robert Walters will proactively build promising futures for our candidates and clients with outstanding service, in-depth market insights, and leading CSR activities. We are honoured to be recognised for our contributions to society. We will forge ahead with our highest standards of services and corporate responsibility, driven by the group’s purpose of empowering people and organisations to fulfill their unique potential.”

Read more here.